Banking and medical information are kept secure through federal regulations. Why should we trust the states that have already shown either their inability or unwillingness to remedy the issue?
Do you really feel like banking and medical records are being kept secure? If so I envy your confidence.
Compare that to the way our messages are being encrypted these days (iMessage comes to mind) and i think we’d find the regulation to be lacking.
The incentive provided by regulations (I.e. jail time or fines) doesn’t compare to incentives derived from competition, or (heaven forbid) profit.
It’s, for better or for worse, human nature.